Answer: Jimmy's Peanut Farm has to decrease its prices by 2.5% in order to achieve a 1% increase in the quantity of peanuts it sells.
Jimmy's Peanut Farm can increase the quantity sold by 1% only when the demand for peanuts increases. Demand for peanuts will increase only when the price of peanuts decrease. The Price Elasticity of Demand measures the responsiveness of demand to a percentage change in price.
The formula for Price Elasticity of Demand (PED) is given by the formula:
We have:
Percentage increase in quantity 1% or 0.01
Price Elasticity of Demand (PED) 0.40
Re-arranging the PED formula above we get,
Substituting the values in the equation above we get,
Answer:
The answer is "
".
Explanation:
Assume that person-person C is still there. He purchases 2 things – salad (S) and pizza (P). Salad (PS) cost five dollars and pizza cost(Pp) three dollars. Let E is the cumulative dollar amount spent on both S and P by Individual C. Look for a cumulative sum of money he pays, represented by E.
Absolute spending equals the amount of good S expenses and good P expenses.
In E and S, compose the P equation.
Therefore, the required equation is:
Person C will have $30 to spend on the goods E = $30.
Answer:
The non-price determinants of supply include:
Indirect taxes → increase costs → supply shifts left (less supply, increase in price)
Subsidies → reduce costs → supply shifts right (more supply, cheaper price)
other ways to intervene -exchange and interest rates.
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Explanation:
Answer: Offering recipients of unemployment insurance benefits a cash bonus if they find a new job within a specified number of weeks
Explanation:
The type of unemployment is not given but the above option is the only one that can reduce unemployment out of the options given.
People who recently lost their jobs and are on Unemployment insurance might find that their motivation to look for a job is not as strong as it should be because they are still receiving a paycheck at the end of the month. It will therefore most likely take them longer to find a job than necessary because they simply aren't looking hard enough.
If the Government stepped in and offered them a cash incentive to find a job quicker, this can have the effect of reducing unemployment by giving those people who were just mentioned renewed motivation to look for employment rather than just remain on Unemployment insurance.
Answer:
a. Other Comprehensive income for 2020 = Unrealized holding loss = -$10.9 million
b. Comprehensive income for 2020 = Net income - Unrealized holding loss = $1,245.7 million -$10.9 million = $1,234.8 million
c. Accumulated other comprehensive income at December 31, 2020 = Accumulated other comprehensive income - Other Comprehensive income for 2020 = $57.2 million - $10.9 million = $46.3 million
